U.S. retail gasoline prices fall below $3 per gallon, the lowest since 2021

In-brief analysis

• On December 1, 2025, the U.S. average retail price of regular gasoline fell below $3.00 per gallon (gal) to $2.98/gal, according to data from our Gasoline and Diesel Fuel Update. When adjusted for inflation, the December 1 price is the lowest average U.S. gasoline price since February 2021.
• The falling price of crude oil, which typically accounts for about half of the retail gasoline price, has led to a drop in the price consumers pay for gasoline.
• Gasoline prices vary by region. On December 1, regular gasoline prices ranged between a low price of $2.55/gal on the U.S. Gulf Coast and a high price of $4.03/gal on the U.S. West Coast.

Principal contributor: Kimberly Peterson

Tags: gasoline, prices, liquid fuels, petroleum products, oil/petroleum, crude oil